Select Page
  

Unison company is a merchandising company which uses the perpetual inventory system. The data presented below is from the accounting records of Unison for the year ended December 31, 2015. The following set of questions on the information is provided for Unison.Average inventory 80,000Cost of goods sold 200,000Selling expenses 40,000Administrative expenses 60,000Interest expense- 20,000Net Sales- 520,000Using above information, compute the following for the income statement prepared for the year ended in 2015:1. Gross profit2.Net income3.gross profit ratio4.inventory turnover